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Michael Gelband ExodusPoint Capital Management

AUM $15.5B
1-Year Est. Return 38.81%
 

Michael Gelband is a co-founder of ExodusPoint Capital Management, a multi-strategy hedge fund launched by veterans of larger alternative platforms. The firm pursues diversified strategies across asset classes with a focus on risk-managed absolute returns. Gelband’s firm is followed as part of the newer generation of multi-strategy complexes.

This Fund
S&P 500
This Quarter Est. Return
-2.63%
1 Year Est. Return
+38.81%
3 Year Est. Return
+110.53%
5 Year Est. Return
+124.16%
10 Year Est. Return
–
AUM
$10.5B
AUM Growth
-$1.83B
Cap. Flow
-$1.43B
Cap. Flow %
-13.63%
Top 10 Hldgs %
22.85%
Holding
2,289
New
494
Increased
544
Reduced
594
Closed
654

Top Buys

Rank Stock Value
1
VMW
VMware, Inc
VMW
+$90M
2
XOM icon
ExxonMobil
XOM
+$88.4M
3
QQQ icon
Invesco QQQ Trust
QQQ
+$87.3M
4
NI icon
NiSource
NI
+$81.2M
5
CMS icon
CMS Energy
CMS
+$70.2M

Top Sells

Rank Stock Value
1
GPN icon
Global Payments
GPN
+$356M
2
DUK icon
Duke Energy
DUK
+$72.3M
3
PNW icon
Pinnacle West Capital
PNW
+$61M
4
OXY icon
Occidental Petroleum
OXY
+$59.8M
5
MRO
Marathon Oil Corporation
MRO
+$58.6M

Sector Composition

Rank Sector Weight
1 Healthcare 11.65%
2 Technology 10.24%
3 Utilities 9.2%
4 Industrials 8.85%
5 Energy 8.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CVRX icon
1776
CVRx
CVRX
$81M
– –
-12,561
Closed -$194K
CVX icon
1777
CALL
Chevron
CVX
$397B
– –
-29,500
Closed -$4.64M
CVX icon
1778
PUT
Chevron
CVX
$397B
– –
-54,700
Closed -$8.61M
CWST icon
1779
Casella Waste Systems
CWST
$6.01B
– –
-39,756
Closed -$3.6M
CXM icon
1780
Sprinklr
CXM
$1.73B
– –
-95,454
Closed -$1.32M
CYH icon
1781
Community Health Systems
CYH
$426M
– –
-52,599
Closed -$231K
DADA
1782
DELISTED
Dada Nexus
DADA
– –
-59,286
Closed -$315K
DAR icon
1783
Darling Ingredients
DAR
$9.81B
– –
-153,023
Closed -$9.76M
DCOM icon
1784
Dime Commercial Bancshares
DCOM
$1.79B
– –
-13,912
Closed -$245K
DDD icon
1785
3D Systems Corp
DDD
$520M
– –
-80,409
Closed -$798K
DEO icon
1786
Diageo
DEO
$53.5B
– –
-1,478
Closed -$256K
DG icon
1787
Dollar General
DG
$27.4B
– –
-42,121
Closed -$7.15M
DIOD icon
1788
Diodes
DIOD
$4.15B
– –
-25,867
Closed -$2.39M
DKNG icon
1789
DraftKings
DKNG
$13B
– –
-107,208
Closed -$2.85M
DLB icon
1790
Dolby
DLB
$6.16B
– –
-3,291
Closed -$275K
DNA icon
1791
Ginkgo Bioworks
DNA
$470M
– –
-703
Closed -$52K
DNOW icon
1792
DNOW Inc
DNOW
$2.81B
– –
-203,477
Closed -$2.11M
DOV icon
1793
Dover
DOV
$27B
– –
-39,479
Closed -$5.83M
DSGN icon
1794
Design Therapeutics
DSGN
$957M
– –
-265,384
Closed -$1.67M
DVN icon
1795
CALL
Devon Energy
DVN
$52.6B
– –
-96,800
Closed -$4.68M
DVN icon
1796
PUT
Devon Energy
DVN
$52.6B
– –
-81,200
Closed -$3.92M
EB
1797
DELISTED
Eventbrite
EB
– –
-61,563
Closed -$588K
EBAY icon
1798
eBay
EBAY
$47.4B
– –
-120,020
Closed -$5.36M
AXIA
1799
DELISTED
AXIA Energia
AXIA
– –
-44,188
Closed -$289K
EC icon
1800
Ecopetrol
EC
$35.4B
– –
-47,791
Closed -$490K
70 71
72
73 74

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Michael Gelband's Q3 2023 Portfolio in Review

As of Q3 2023, Michael Gelband held 2,289 positions worth $10.5B, down 15% from $12.3B the previous quarter. Its ten largest holdings account for 23% of the portfolio.

Michael Gelband withdrew a net $1.43B in Q3 2023, closing 654 positions and reducing 594 holdings. Its most notable exit was Pinnacle West Capital, an estimated $61M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 12% of assets, up from 9.1% a quarter earlier, followed by Technology and Utilities.

Against the trend, Michael Gelband opened a new position in ExxonMobil worth $94.8M.

  • Michael Gelband's largest Q3 2023 buy was ExxonMobil: 806,107 shares worth $94.8M.
  • Michael Gelband added most to VMware, Inc in Q3 2023, an estimated $90M increase.
  • Michael Gelband's biggest Q3 2023 reduction was Global Payments, cutting an estimated $356M.
  • Michael Gelband fully exited Pinnacle West Capital in Q3 2023, selling an estimated $61M.
  • Michael Gelband's ten largest holdings make up 23% of its $10.5B portfolio in Q3 2023.
  • Michael Gelband opened 494 new positions and closed 654 in Q3 2023.
  • Michael Gelband's portfolio value fell 15% quarter-over-quarter to $10.5B.

Based on ExodusPoint Capital Management's 13F filing for Q3 2023, filed 13 Nov 2023.